ABSTRACT
Before the formation of the Australian Securities ExchangeASX, the Sydney Stock Exchange had hosted over 50 per cent of all Australian listed share capital and Sydney had clearly overtaken Melbourne as the dominant financial centre by the 1980s. But the creation of the industry funds movement was very much a Victorian affair, with Kelty, Crean and Weaven all being Melbournians. The formation of Australian Institute of Superannuation Trustees was a response to the increasing demands made upon trustees in the changing environment of superannuation. The speed of legislative changes and ever-rising participation of the community in superannuation has made the management of superannuation big business. The institutional capacity of schemes such as Building Unions Superannuation had clearly outgrown the ambit of the Australian Council of Trade Unions, however, and in 1991, in collaboration with the trustees of public-sector and company staff funds, the annual Conference of Major Superannuation Funds was established.
